The Walton family of America is the richest family in the country and the reason is that they are the owners of Walmart.
In 1962, Sam Walton established the multinational retail corporation Walmart. Since then, his heirs have worked to turn the company into a multibillion dollar cash machine.
With earnings of $70,000 every minute and $4 million per hour, the family is one of the wealthiest dynasties in the world. So let's check out the walton family tree and many more things about them.
The story of Walton’s success - Walmart
On March 29, 1918, Sam Walton was born in Kingfisher, Oklahoma. Walton's parents left the farm when he was five years old and started a business in Missouri. Prior to that, the family had lived on a farm. The family was forced to relocate from Midwest town to Midwest town as a result of the Great Depression in an effort to survive. Walton started doing a number of part-time jobs during this time to help support the family. Keep reading to know more about walton family tree.
Walton attended the University of Missouri after high school to start his career in business. After graduating, he joined J.C. Penney's management training program. He majored in Economics there. This individual started out in business and was successful. Sadly, his early commercial career was cut short when he was enlisted in the American Army. Walton was selected to join the Army Intelligence Corp. because of his demonstrated leadership skills during World War II. He progressed through the Army ranks, reaching Captain.
Sam Walton opened his first store in 1945 after leaving the army, which marked the beginning of the world's largest retailer by revenue. As we are talking about the walton family tree, first we should know the history of Walmart as it is the reason behind their success and fortune.
Walton established his first Walmart in Rogers, Arkansas, in 1962. There was quick success. Walmart had a share value of almost $176 million by the year 1976 when it went public. Walmart's stock value increased to $45 billion by the beginning of the 1990s. Walmart overtook Sears, Roebuck & Company to overtake them as the nation's top retailer in 1991.
In the United States, there were about 2,000 Walmart stores open by 1992, the year Sam Walton passed away. Rob, Sam's son, took over as the company's CEO. Another son, John, served as a director until he died in a plane accident in 2005, while the third son, Jim, who is the CEO of Arvest Bank, has been an active shareholder.
Walton family tree
Sam Walton married Helen Robson on Valentine's Day in 1942 and together they had four children: S. Robson Walton, John T. Walton, Jim Walton & Alice Walton.
Among them S. Robson Walton’s child’s name is Carrie Walton and John T. Walton’s only child’s name was Lukas Walton, while Jum Walton’s childrens names are Alice Annie Walton, Steuart Walton, Thomas Layton Walton & James M. Walton. These are the most famous names among the walton family tree.
Walton family foundation
The Walton family, who are the inheritors of Sam Walton's Walmart fortune, use the Walton Family Foundation as their main charity organization. The Waltons are the richest family in the world as of March 2020, with a combined net worth of $196 billion. The Walton family holds all six board seats in the Walton Family Foundation, in contrast to the Walmart Foundation, which is directly under the direction of Walmart Inc. Keep reading if you are interested in the walton family tree.
The Foundation was established in 1987 and initially concentrated on charter schools because Sam Walton and his sons had a particular interest in this area. The K–12 education, river and ocean protection, and economic development in Arkansas and Mississippi are the three areas on which the Foundation has evolved throughout time. However, the Foundation continues to place a high priority on charter schools, and since 1997, the Foundation has donated $407 million to these institutions.